BRI's Net Profit Increases Slightly by 0.95% in the First Half of 2024

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Erlina Fury Santika 30/07/2024 20:10 WIB

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PT Bank Rakyat Indonesia/BRI Revenue* and Net Profit for Semester I (2023-2024)

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Financial reports from PT Bank Rakyat Indonesia (BRI), published by the Indonesia Stock Exchange (IDX), show that net profit attributable to the parent entity reached Rp29.7 trillion in the first half of 2024.

This state-owned bank's net profit only increased by 0.95% year-on-year (yoy) from Rp29.4 trillion in the first half of 2023.

Despite this, the interest and sharia income of the issuer with the code BBRI increased significantly by 15.25% (yoy), from Rp85.59 trillion in the first half of 2023 to Rp98.64 trillion in the first half of 2024.

According to Katadata, BRI's credit disbursement in the first half of this year increased by 11.2% year-on-year, reaching Rp1,336.78 trillion. The majority of credit was disbursed to micro, small, and medium enterprises (MSMEs), reaching Rp1,095.64 trillion, representing 81.96% of the total.

The gross non-performing loan (NPL) ratio increased from 2.95% to 3.05% on a consolidated basis, or from 3.1% to 3.2% for BRI's entity alone. BRI also recorded an NPL coverage ratio of 211.6%.

Bank Rakyat Indonesia also recorded a loan-to-deposit ratio (LDR) of 86.59%, lower than the same period last year at 87.26%. BRI's capital adequacy ratio (CAR) was 25.13% as of June 2024.

BRI has collected third-party funds (DPK) of Rp1,389.66 trillion in the first half of 2024, an increase of 11.61% from the same period last year, which was Rp1,245.12 trillion.

Total assets as of June 2024 amounted to Rp1,977.37 trillion, up 9.54% (yoy) from Rp1,965 trillion in the previous year. Liabilities amounted to Rp1,665.64 trillion and equity to Rp311.73 trillion in the first half of 2024.

Disclaimer: There was a correction in the writing of the net profit figures on Saturday, August 24, 2024, at 2:24 PM WIB. Initially written as Rp2.97 trillion and Rp2.94 trillion, it has been corrected to Rp29.7 trillion and Rp29.4 trillion.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."